The latest centralized exchange hack may be among the most devastating to date as Bitmart has lost $196 million in various cryptocurrencies.
A tweet from security analysis firm Peckshield first called attention to the alleged hack Saturday night.
One of Bitmart’s addresses currently shows steady outflows of entire token balances, some worth tens of millions of dollars, to an address currently labeled by Etherscan as the “Bitmart Hacker.”
Hours later, however, Bitmart CEO Sheldon Xia confirmed that the outflows were indeed a hack resulting from a “security breach.”
#BitMart will resume deposit and withdrawal features for ETH and related tokens.
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